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FOX Business
Apr 3, 2013 1:00pm EDT
washington. peter? >> that's right. sources confirm the obama administration launched a broad push to get mortgages to people with weaker credit records and provide banks with a taxpayer guarantee that they won't make their payments. sources say the administration is working with banks, the federal housing administration, the justice department, and other agencies to help home buyers with lower credit scores, but who might not be able to make mortgage -- who might be able to make mortgage payments now, but can't qualify because the bank is still cautious and tight with the lending standards. critics worry is sews seeds for another financial crisis and taxpayer bailout. >> this is a bad mistake, and it was shown to be a bad mistake by what happened in 2008. we would not have had a financial crisis if we had not followed policies that were intended to increase home ownership by making financing available to people who otherwise would not be able to get mortgages. >> the boom and bust were not caused by providing 30-year fixed rate mortgages to generally qualified families. it was caused by
FOX Business
Apr 3, 2013 11:00am EDT
washington. peter? >> hey, cheryl, that's right. sources confirm the obama administration launched a broad push to get mortgages to people with weaker credit records to help them and housing market as interest rates are at record lows. critics worry it's reviving the risky lending practices that created the financial crisis, but the administration, according to the sources, is working with banks, and the federal housing administration, the justice department, and other agencies to help people who want to buy a home, and they may is a lower credit score right now, but they might be able to make a mortgage payment, and they can't qualify because banks are still being very cautious and tight with their lending standards. >> it's very important for lenders to underwrite carefully and make sure that a person can afford the loan across the entire term of the loan. this effort does nothing to change that. all it does is loosen the credit a little bit to get it to more people who can afford a loan. >> unless we understand what caused the 2008 financial crisis, we're going to make the same mistake
FOX Business
Apr 4, 2013 1:00pm EDT
in government policy. monday, washington base investment firm hype securities had a report predicting the obama administration would reverse course op big spending cuts that would have hit health insurers. they skyrocketed by 8.5%, a half hour later. the government announced the change in policy the report predicted. while the incident is throwing a spotlight on the controversial political intelligence industry, today's report by the investigative arm of congress concludeed the area is murky saying, quote, the prevalence of the sale of political intelligence is not known and therefore difficult to quantify. while currently little prevents lobbyists and washington insiders from gathering information, top congress could supplement existing gyps and laws to create stricter regulation. melissa: the washington post traveled the 1700 mile route and wrote about the experience in the recently published e-book, and, steve, what inspired you to do this? >> well, just seemed like a good way to bring this object to life rather than sit here and talk about whether or not this piece of paper was going to be
FOX Business
Apr 4, 2013 11:00am EDT
. president obama announced he'll return 5% of the salary in support of federal workers who will be furloughed. 5% is off the 400,000 take home pay equals $20,000. joining us from washington, d.c., what say you about this, mr. moore? >> great to be with you. look, it's a smart political move by the president. he was coming under attack from a lot of republicans for not being, you know, susceptible to same cut in salary that federal workers are, and i think this is a shrewd political move. members of congress should take a 5% cut. i'd permanently cut that pay by 5%. just in terms of fairness, and i hate to use that word, but i think it's a very good policy. dagen: in terms of the political momentum, how much does he get? when you say "shrewd," i think it means we'd have long lasting impact on the political pop pew particularity, think it will? >> maybe. it's a small gesture, but important. i applaud him for it. i'm not saying he's doing this for political reasons. i think he does feel kind of a brotherhood with the federal employees, and, look, i live in washington, d.c., people on my street ar
Search Results 0 to 3 of about 4